PayPal Alumni Launch Decentralized Payment Network By CoinQuora

PayPal Alumni Launch Decentralized Payment Network

CryptocurrencyJun 16, 2021 04:30AM ET

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PayPal Alumni Launch Decentralized Payment Network

Two former PayPal employees launched a decentralized global payment solution.
The platform, Six Clovers, uses stablecoins to make instant transfers.
Also, the platform offers refunds unlike most blockchains.

Two former PayPal employees teamed up to launch Six Clovers, a decentralized payment blockchain. Six Clovers aims to accelerate global transfers by connecting fiat and digital currencies.

Also, the blockchain aims to provide an alternative to the current SWIFT protocol which can take days to execute transactions. To this end, Six Clovers CEO Jim Nguyen noted,

A lot of the infrastructure that we are using today was built during the 1970s and ’80s…and for a lot of folks who are maybe born in that generation, it’s OK. But the internet native folks are now in the workforce and they’re like, I get my email in real-time, I can refresh my webpage in real-time, why does my money have to take a couple of days to get there?

To fix this, the platform leverages

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PayPal Alumni Launch Decentralized Payment Network

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